Are 0% Cards Still Available?
This is part of our Pay Debt Quickly series sponsored by
PDQ Pay Debt Quickly kit.
Question: Cindy, I have over the past few years been rolling over funds from one 0% credit card to the next. I now have one for $8K expiring in a few months and have not seen any offers come in for low interest rate credit cards. What do you recommend? My credit score is very good, around 750 last time I checked and I am not in a position to pay it off. BTW, you helped me restore my credit score, remember? ~ Lucy
Answer: Hi Lucy, I do remember and 750 is a terrific credit score. Unfortunately, it is going to be tougher and tougher to find those 0% credit cards. You can blame the sub-prime mess for it, too.
In many cases, the banks are going using their credit card division profits to prop up their other operations. That means less good deals for consumers.
Take a look at Card Ratings.com run by my friend Curtis Arnold and get the best card you can find even if it’s not at 0%, although Card Ratings.com is still showing a number of 0% cards out there. Hopefully those good deals will come back especially for those with great credit ratings like you!
Warmly, Cindy
P.S. Curtis has written a new book How You Can Profit from Credit Cards: Using Credit to Improve Your Financial Life and Bottom Line.
Hi MendYourMoney,
I was browsing through your article on credit cards and I thought you may be interested in taking a look (and hopefully writing about!) our website called NerdWallet.com. It is an exciting new venture founded by three former Wall Street professionals that enables users to find the appropriate credit card given their credit score, the amount they spend each month, the rewards they prefer, and much more.
NerdWallet is truly unique because of its content. It has five times more cards than its competitors, and it is adding new cards to its database almost every day. This means that NerdWallet lists all cards, not just those that pay the site a commission, giving users the entire range to choose from in order to make an informed decision.
Its blog is another aspect worth highlighting- the founders regularly publish interesting articles that are pertinent to card users, such as which cards offer the lowest balance transfer charges, updates with new cards from different banks, and so on. It can be viewed at http://www.nerdwallet.com/blog/.
Thank you for taking the time to read this- please do not hesitate to reach me with any comments or questions.
Helen C. Key
Marketing Director, NerdWallet.com
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